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poster 'BEMOREBOY' brings up the name of Warren Buffet, which brings up another interesting angle about our lopsided tax structure. It's been shown by Tim Carney and others that in recent years Buffett has looked to line his wallet thru rent-seeking activities. 'Rent-seeking' is essentially the seeking of profit thru legal manipulations rather than by creating value, i.e. goods/services that people want and are willing to pay for.
For example, one way Buffett has made a lot of money is by buying up companies that have been forced onto the market because of confiscatory estate tax laws. When the company owner dies, the kids are forced to sell the company or get reamed on estate taxes. So they end up having to sell it at a heavily discounted rate. Warren makes out like a bandit, while creating zero economic value.
So not only is our tax structure an inherently unstable one, as I pointed out in post #1, it is driving our cleverest entrepeneurs in the direction of rent seeking instead of creating economic value. That's a receipe for long term economic decline.
The US cannot compete for "producer type" jobs when they are more cost effective to do so in other countries.
For crying out loud, your own local and state governments are contracting out work and it's going offshore because it's more cost effective.
True,
Think of it this way. You are buying a new TV and know exactly what you want. What do you do? You shop the different stores and watch the sales ads and compare prices. In most cases you will buy your TV from the company that sells the TV at the best price. And you do this with everything you buy most of the time.
So what do you think businesses will do? They are shopping too. Right now, knowing that the US already has the highest corporate taxes in the WORLD and they are about to be hit with the biggest tax increase in history, for those companies that can, corporations will shop (just like you) and move operations and do business with the countries who offer the best terms and least expense (just like you do and would).
You are going to buy a house. You like 2 very similar houses equally well. Both are priced the same, same value, etc but each house in a different county or state. When you crunch the numbers House A is in a county or state that has higher taxes therefor the mortgage payment is higher. Taxes even effect you after you pay the mortgage off and an important to consider for your retirement years. What house would you buy?
Again simplified but it is what it is.
----
You are looking at houses. House A is much nicer and affordable. House B is not as nice but the mortgage is the same as House A house due to taxes.
The answer to this is a no brainer. Taxes effects how much house you can afford.
If you are basing your voting decision on morals and taking into account the illegals, we should take care of our own first. Basic example,
You have a family of 5 and times are tough, barely enough food to feed and take care of your family. Do you make more babies when you are having a hard time taking care of your family already? I know, many welfare recipients do because the gov gives them more money but I am not talking about them.
Anyway, what do you think has happened? Many Americans are jobless and struggling to make ends meet, so lets give out work visas to millions more so they can take American jobs.
How can we take care of ourselves if we are giving it all away?
So not only is our tax structure an inherently unstable one.
I liked post #1. Funny
It is hurting our economy through everyone even when they do not realize it. People spend less, entrepreneurs hire less, big corporations move elsewhere and take the jobs with them (not in any particular order). Just think of it. Someone in China is working and getting a paycheck where you wait for the government check because you actually believed that smart people, financially savvy people and companies will take it bending over. You can 'SHOULD" this and they should that all you want but they won't.
I happened to catch this from Mark Levin the other day, found it striking, and decided to look it up on line when I got home. Mark Levin
Economist Mark J Perry found this interesting factoid. According to 2009 IRS data, the 400 top taxpayers in 2009 shelled out $16.1 billion, while the bottom 50% of taxpayers totaled $19.5 billion in taxes, or less than 25% more.
Something to cite next time someone claims that the rich don't pay their fair share in taxes.
Note also how inherently unstable this structure is. What happens if just a few of those 400 decide to take their money and go to some small offshore tax haven? Wouldn't it be more stable to have a much more broad-based structure instead of trying to drain so much dough from such a tiny group?
You are skewing statistics. The top 400 have so much money at their disposal that even at lower rates they are paying that much. The bottom get by on paycheck to paycheck and have little to no money for taxes.
You want the bottom to pay their fair share? Pay people liveable wages with disposable income. Restrict the arbitrary hiking up of rent, food and gas.
Even you yourself hav noted how unstable it is. Whats the magic solution?
Whining does not work
Complaining does not work
Playing the lottery does not work
Gambling does not work
Obama didn't work (out playing golf all the time)
Obama's policies didn't work
Who's the only one who can do anything about it??? YOU!!!
Who is doing that ? The taxes you pay do not get sent to the "investor class". They make their money from investing in companies. Sometimes you win, sometimes you lose.
Income ? Well that comes from a job or investments that pay dividends. Plenty of retired folks are in the "investment class" so their 401K/IRA/retirement funds can generate money for them to live off of.
Do you think the USG cuts checks and mails them directly to this 1% ?
As other posters said..sitting there waiting for the USG to take money from the wealthy and hand it to you is not something you should be striving for. That's a welfare class.
Disparity in income ? Well that was in the works for years as we became more global. The US cannot compete for "producer type" jobs when they are more cost effective to do so in other countries.
Offshoring started in the 60's and ramped up in the 90's and is now full blown..if it can be done by someone in another country then it is or will be.
Your best bet is to get a job that requires your physical presence, lower your expectations for the American dream and get on with life.
For crying out loud, your own local and state governments are contracting out work and it's going offshore because it's more cost effective.
It is cost effective because repugs want it that way. You are aware of repubs blocking dem sponsored bills to keep jobs here and reward businesses for bringing jobs back. You are aware that foreign countries are practicing protectionism which we are not. This is the "global market" which favors outsourcing for cheap slave labor for the good of the repub base - the 1%.
And you would like Americans to lower their expectations for the good of what - your portfolio?
Whining does not work
Complaining does not work
Playing the lottery does not work
Gambling does not work
Obama didn't work (out playing golf all the time)
Obama's policies didn't work
Who's the only one who can do anything about it??? YOU!!!
Read, Learn, Do
So Obama never worked as opposed to your silver-spoon boys Bush and Romney?
Why do you post such crap expecting anybody to believe it? You can do no better than this?
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